A Peter Thiel fellow has raised $10 million in seed funding for a litigation finance startup

Remember Hogan v Gawker? In a previous article, we discussed how Peter Thiel helped Hulk Hogan in his lawsuit against Gawker. Well, a former Peter Thiel fellow was taking notes and just raised $10 million for a commercial litigation funding company.

The fledgling “tech enabled” firm purports to use “an algorithm” to decide what cases to fund. Just as computer and human teams have ultimately bested each of humans and computers alike at chess, data or computationally enabled underwriting is probably a more fitting description than algorithmic underwriting. Nevertheless, the firm clearly has some investors sold on their concept.

Legalist Inc., co-founded by Eva Shang and Christian Haigh, ruffled a few feathers at Y Combinator’s Demo Days. Their pitch for litigation funding occurred in the midst of the Hulk Hogan lawsuit, in which Peter Thiel helped fund. Nonetheless, both Shang and Haigh were able to raise $10 million for their company. This money, according to Shang (the former Thiel fellow), will be used to fund small business lawsuits. Instead of of focusing on multi-million-dollar lawsuits, Legalist will contribute an average amount of $100,000 per case.

Legalist’s contribution helps these small business owners afford the legal expenses they otherwise wouldn’t be able to. In order to find lawsuits to help fund, Legalist incorporates a system that accounts for various factors – such as the court and judge behavior towards the plaintiff and defendant.

Uplift Legal Funding

Uplift Legal Funding aims to help those who can’t afford a fair fight. If you find yourself in a personal injury lawsuit with many expenses weighing you down, personal injury lawsuit loans can help. There are no spending restrictions, but most plaintiffs use legal funding to cover medical expenses, lost wages and legal fees before settlement. Apply online or give us a call anytime at (800) 385-3660.